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Li Auto November Deliveries Pop Over 190%; Shares Gain

Shares of Li Auto (LI) were up 6% in the pre-market trading session at the time of writing after the China-based EV maker provided a delivery update for November 2021. 

The company delivered 13,485 Li ONEs in November 2021. This marked 190.2% year-over-year and 76.3% sequential growth. 

As of November 30, 2021, total deliveries stood at 76,404 in 2021. This represents cumulative deliveries of the Li ONE to 110,001 since its launch. (See Li Auto stock charts on TipRanks) 

Official Comments 

Following the release of this robust data, Li Auto President Yanan Shen said, “We set a new monthly record with over 13,000 deliveries of Li ONEs in November, making Li ONE the first domestic branded premium model priced above RMB300,000 in China to achieve the 10,000 monthly deliveries milestone…This impressive result reflects widespread user endorsement of our outstanding product features and performance, and we deeply appreciate our users’ recognition.”  

“Looking ahead, we will continue to create products and services that can delight our users and make ourselves proud,” Shen added. 

Peers’ Performance 

Looking at Li Auto’s peers, XPeng (XPEV) delivered 15,613 vehicles in November and registered a year-over-year increase of 270%, while NIO’s (NIO) November deliveries came in at 10,878, up 105.6%. 

Wall Street’s Take 

Recently, Bank of America Securities analyst Ming-Hsun Lee maintained a Buy rating and raised the price target to $46 (29.8% upside potential) from $44. 

Consensus among analysts is a Strong Buy based on 6 unanimous Buys. The average Li Auto price target of $44.98 implies 26.9% upside potential from current levels. Shares have gained 1.7% over the past year. 

Hedge Fund Holdings 

TipRanks’ Hedge Fund Trading Activity tool shows that confidence in Li Auto is currently Very Positive, as the cumulative change in holdings across all 3 hedge funds that were active in the last quarter was an increase of 1.5 million shares.

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